NEW YORK--(EON: Enhanced Online News)--Prudential Real Estate Investors announced today the acquisition of 55
East Monroe, a 49-story Class A office property in Chicago, on behalf of
institutional investors. GlenStar Properties, which has managed the
property since 2005, will continue to serve as the property manager and
leasing broker. Terms of the transaction were not disclosed. PREI, among
the world’s largest real estate investment management and advisory
businesses, is a business of Prudential Financial, Inc. (NYSE:PRU).

55 East Monroe is a LEED certified, 1.25 million square foot office
property spanning a full city block in Chicago’s East Loop. The recently
renovated property also has 70,000 square feet of retail, and a
seven-level parking garage. It is located one-half block from Michigan
Avenue, with views of Lake Michigan, Grant Park, Millenium Park and the
city skyline, and is close to several transportation hubs and an
abundance of walkable retail, hotel and residential centers.

“The acquisition of 55 East Monroe, a well-located, high-quality office
property, reflects PREI’s strategy to pursue existing urban office
properties below replacement cost to capitalize on the expanding job
market and deliver strong and stable cash flows to our investors,” said
Kevin R. Smith, head of Americas for PREI. “We look forward to
continuing our relationship with GlenStar to build on PREI’s successful
partnership network, and we are confident that the community and tenants
at 55 East Monroe will benefit from our firms’ combined investment,
asset and property management experience.”

Prudential Real Estate Investors is the global real estate investment
business of Prudential Financial, Inc. (NYSE: PRU). Investing in real
estate on behalf of institutional clients since 1970, PREI today has
more than 650 employees located in 19 cities around the world, and gross
assets under management of $58.2 billion ($43.5 billion net) as of
September 30, 2014. PREI offers to its global client base a broad range
of real estate investment vehicles across the risk-return spectrum and
geographies, including core, core plus, value-add, opportunistic, debt,
securities, and specialized investment strategies. For more information,
visit www.prei.com.

Prudential Financial, Inc. (NYSE:PRU), a financial services leader with
more than $1 trillion of assets under management as of December 31,
2014, has operations in the United States, Asia, Europe, and Latin
America. Prudential’s diverse and talented employees are committed to
helping individual and institutional customers grow and protect their
wealth through a variety of products and services, including life
insurance, annuities, retirement-related services, mutual funds and
investment management. In the U.S., Prudential’s iconic Rock symbol has
stood for strength, stability, expertise and innovation for more than a
century. For more information, please visit www.news.prudential.com.

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